Hazlett Burt & Watson Inc. Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Hazlett Burt & Watson Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 5.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,391 shares of the energy producer’s stock after acquiring an additional 183 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in ConocoPhillips were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Bridgewater Associates LP increased its position in shares of ConocoPhillips by 58.9% during the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after acquiring an additional 1,141 shares during the period. Semmax Financial Advisors Inc. raised its position in ConocoPhillips by 10.9% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 10,851 shares of the energy producer’s stock valued at $1,209,000 after purchasing an additional 1,070 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of ConocoPhillips by 89.3% in the 3rd quarter. True Wealth Design LLC now owns 653 shares of the energy producer’s stock worth $69,000 after buying an additional 308 shares during the period. Erste Asset Management GmbH bought a new position in shares of ConocoPhillips during the 3rd quarter worth $7,017,000. Finally, FSA Wealth Management LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at $108,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP opened at $102.37 on Monday. The business has a 50-day moving average price of $98.95 and a 200-day moving average price of $103.28. The stock has a market cap of $130.26 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COP. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.